The Nigerian equity market started the week on a positive note, gaining N79 billion on Monday due to the appreciation of 32 stocks.

The market capitalisation increased by 0.14% to N56.5 trillion, while the All-Share Index rose by 138.61 points to close at 98,386.60 points. This boosted the year-to-date return of the local bourse to 31.58%.

In total, 410.43 million shares worth N5.51 billion were exchanged in 10,669 deals, marking a 26% decline in volume and a 46% drop in turnover.

However, the number of deals increased by 23%, indicating greater market participation.

FCMB Group and McNichols led the gainers, both appreciating by 10%, followed by Fidelity Bank, which rose by 9.93%. Other top gainers included Tantalizers, Flour Mills of Nigeria, and Caverton.

Berger Paints led the 19 lagging stocks, falling by 9.83%, followed by Daar Communications and Deap Capital. Transcorp Nigeria was the most actively traded stock with 66.8 million shares exchanged, followed by Fidelity Bank and Access Holdings.

(PUNCH)